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Strategies & Market Trends : HONG KONG

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To: Tom who wrote (1478)	3/25/1998 4:04:00 PM
From: William Shen	Read Replies (2) of 2951

I thought the web site should give you a pretty good view about SIHL. SIHL is generally being regarded by Hong Kong stock analysts as one of the two best managed red chip (the other being China Resources). If you are bullish about the economic growth prospects of Shanghai (by definition, if you are bullish on China, you have got to be bullish about Shanghai), then SIHL is the only official window company representing Shanghai (i.e. the only investment opportunity to take advantage of that growth) The fact SIHL has not yet made any significant acquisitions since its IPO and several rounds of debt issue implies that it is sitting on a huge pile of cash, plus the fact that the infrastructural project in Shanghai provides a steady flow of cash to the corporation positions it well after the regional financial turmoil. A strong balance sheet with a lot of cash reserve, and being backed by the Shanghai municipal government, not to mention that most of the members in the politburo all have Shanghai roots. What else can you ask of a red chip?

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